Felcor Lodging converting eight hotels to Wyndham properties FelCor Lodging Trust Incorporated (FCH) will re-brand, renovate and reposition eight Holiday Inn properties to the Wyndham Hotels and Resorts brand effective March 1, 2013. Wyndham Hotel Group (WYN) will manage the hotels under long-term management agreements with a performance guaranty. This agreement includes a $100M guaranty from Wyndham Worldwide Corporation over the 10-year term of the agreement, with an annual guaranty of up to $21.5M that ensures a minimum annual NOI for the eight hotels.
News For FCH;WYN From The Last 14 Days
Check below for free stories on FCH;WYN the last two weeks.
Felcor Lodging upgraded to Outperform from Market Perform at JMP Securities JMP Securities upgraded Felcor Lodging following the solid Q4 report and said the company is well positioned to take advantage of the prolonged recovery in the lodging sector. Price target is $10.50.